Zoltek Companies Inc. (ZOLT) is dropping during pre-market trading on Tuesday following the release of quarterly results. At 9:14 am ET the stock is trading at $7.63 down $1.02 from Monday's close.
With the decline, the stock is indicated to open having reversed some recent gains.
The company reported first quarter net income of $0.54 million, or $0.02 per share, compared to $2.6 million, or $0.08 per share, in the same period last year.
Operating income from continuing operations totaled $3.5 million, versus $4.8 million in the previous year comparable quarter.
Net sales for the quarter fell to $38.63 million from $40.07 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings for the quarter of $0.13 per share on $50.31 million sales.
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